| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 32nd | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 Moffett Rd, Ceres, CA, 95307, US |
| Region / Metro | Ceres |
| Year of Construction | 1987 |
| Units | 25 |
| Transaction Date | 1996-01-02 |
| Transaction Price | $1,740,000 |
| Buyer | SINGH HARNAM |
| Seller | WELCH DOLORES J |
2121 Moffett Rd Ceres Multifamily Investment Opportunity
Household growth within a 3-mile radius and a high-cost ownership market point to steady renter demand, according to WDSuite’s CRE market data. Neighborhood performance sits in the top quartile of the Modesto metro, supporting durable leasing fundamentals.
The property is in an Inner Suburb location of the Modesto, CA metro with an A- neighborhood rating, ranked 25 out of 130 neighborhoods — competitive among Modesto neighborhoods and effectively top quartile locally. Amenity access trends positive: parks and cafes score in the top quartile nationally, and grocery options rank above national norms, which supports day-to-day livability and resident retention.
Renter demand is reinforced by an ownership market with elevated home values relative to incomes (nationally high percentile), which typically sustains reliance on multifamily housing and pricing power for well-managed assets. Median contract rents in the neighborhood have grown over the last five years while the neighborhood occupancy rate is in a mid-range position metro-wide, signaling stable but competitive leasing dynamics that reward active asset management.
Within a 3-mile radius, WDSuite’s demographics indicate recent population growth and a projected increase in households, expanding the local tenant base. Larger household sizes than the national norm can support demand for bigger floor plans, while a renter-occupied share near two-fifths suggests a meaningful pool of renters for multifamily communities without over-reliance on any single segment.
Notable nuances for underwriting: average school ratings trend below national averages, which can influence unit mix performance for family-oriented renters, and pharmacy access is thinner than other amenities, a minor convenience factor. Overall, amenity depth (parks, childcare, cafes) and solid neighborhood standing versus the metro anchor the area’s long-run investment appeal.
Comparable neighborhood-level safety benchmarks are not available in WDSuite’s dataset for this location. Investors typically evaluate safety using a combination of multi-year trend data, local agency reports, and property-level measures. Positioning should focus on well-lit common areas, access controls, and resident engagement to support leasing and retention.
When reviewing comps across the Modesto metro, use consistent timeframes and avoid block-level assumptions; trend direction and relative standing versus metro averages often provide the most reliable context for underwriting.
Regional employers contribute to a diversified workforce within commuting range, supporting renter demand and lease stability. Highlighted below is a nearby corporate presence relevant to workforce housing dynamics.
- Clorox — consumer products (25.0 miles)
Built in 1987, the asset is newer than the neighborhood’s average vintage, offering a competitive edge versus older local stock while still presenting selective modernization opportunities for systems and finishes. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally with strong amenity access (parks, cafes, childcare) and above-average home values that tend to reinforce rental demand, supporting occupancy stability for well-operated multifamily assets.
Within a 3-mile radius, recent population growth and an expected increase in households point to a larger tenant base over the medium term. Rent-to-income levels appear manageable for workforce renters, which can aid retention, while mid-range neighborhood occupancy suggests disciplined operations and targeted value-add can capture upside without assuming outsized market growth.
- 1987 construction offers competitive positioning versus older stock with targeted value-add potential
- Top-quartile neighborhood standing in Modesto with strong amenity access supports leasing
- Household growth within 3 miles expands the renter pool and supports occupancy stability
- Elevated ownership costs in the area reinforce multifamily demand and pricing power
- Risks: mid-range neighborhood occupancy and below-average school ratings require active leasing and retention strategies